(Closed) Which credit card would you keep/discard?

posted 8 years ago in The Lounge
Post # 3
Member
20 posts
Newbee

I feel like everyones takes BOTH MC and Visa

Post # 4
Member
2417 posts
Buzzing bee
  • Wedding: August 2015

Visa and Mastercard is accepted just about everywhere. I would keep the one with the lower interest rate.

Post # 5
Member
5540 posts
Bee Keeper
  • Wedding: December 2011

I think either way you are safe, AMEX is less likely to be accepted places (something about having 5 last numbers instead of 4) but Visa or MC are fairly universal if a place accepts cards. I would say keep the one with a lower interest rate!

Post # 6
Member
7172 posts
Busy Beekeeper

I’ve had both (MC/Visa) and never had a problem with one over another – but for some odd reason, I prefer Visa (maybe better marketing commercials?!) 🙂

Post # 7
Member
951 posts
Busy bee
  • Wedding: June 2013

Both cards are accepted pretty much universally. I would check what your interest rates are and what your benefits are for each card.

I would say to choose based on the following points:

-best interest rates

-best travel rewards/redemption rate for air miles

-best offerings for travel insurance, purchase protection insurance, etc.

Post # 8
Member
13903 posts
Honey Beekeeper
  • Wedding: November 1999

Visa and MC are accepted pretty equally everywhere.  Honestly, I’d look more into the interest rates, perks, and other benefits of each card rather than just asking which one you should keep.  The cards are usually administered by various banks, so my Mastercard benefits/interest rates may be different than yours, you know?   

If you’re in a homebuying stage, I would keep the one you have had the longest, though.

Post # 9
Member
10355 posts
Sugar Beekeeper
  • Wedding: September 2010

AmEX is the worst for getting accepted, actually.

Visa and Mastercard are pretty much the gold standard for acceptance. I would keep whatever has a good combo of no annual fee/lowest APR/best rewards. For example, we decided to keep our AAdvantage Visa even though it has an annual fee because we get at least 1, sometimes up to 3 free tickets, plus free checked bags, upgraded seats, etc etc out of it each year.

Post # 11
Member
11735 posts
Sugar Beekeeper
  • Wedding: November 1999

I wouldn’t get rid of either to be honest. 

Post # 12
Member
195 posts
Blushing bee

Banker here…

1. Check the interest rates on both.

2, Read the fine print.  A lot of cards come with features you aren’t always aware of.  Example: some include, AAA, travel insurance, product warrenties, etc… but these are only outlined in the fine print. 

Don’t base it off what is more widely accepted as MC and Visa are pretty much equal, but I really recommend reading the fine print for each card to see what one offers over the other.  I myself did not know my visa includes 2 year product warrenties on all my purchases.  I never bought extended warrenties from stores ever again after finding that out.

 

Also having 3 cards isnt bad.  You can build good credit by showing you can manage multiple credit products and it is also good backup in an emergency situation.

Post # 13
Member
1889 posts
Buzzing bee
  • Wedding: May 2011

You should check and see who has the best sign-up bonuses right now.  I think if I were you, I’d keep the Visa card though. 

Is it a Southwest Visa card?  If it isn’t, you can probably close both of your current cards and I think you can get two free roundtrip flights if you open a new Southwest Visa.  We just flew to Punta Cana for free (in business class!) on Airtran since you can transfer your points/miles between Southwest and Airtran now.

Post # 14
Member
407 posts
Helper bee
  • Wedding: November 2012

Keep the VISA.

Post # 15
Member
3885 posts
Honey bee
  • Wedding: September 2011

I’d keep them both, especially if I were younger and needed the length of account as a positive credit factor.  There’s no harm having an open account with a $0 balance unless you’re paying an annual fee.

Post # 16
Member
153 posts
Blushing bee

I’ve always been told Old Credit is Good Credit……so I would keep the one you have had longer.

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